Minerva Project: $25 million seed round entirely from Benchmark Capital. The Minerva Project proposes to create an elite university where tuition will cost less than $20,000 per year for students. Coursework will be delivered online; students will live together. Founded by former Snapfish CEO, Ben Nelson, who will serve on the board along with Benchmark's Kevin Harvey. Nelson expects to raise another, larger round before Minerva starts its first class of students in September 2014.